Frost & Sullivan recently published the 2023 Frost Radar Fraud Detection and Prevention (KYU) report, which analyzes numerous companies in a specific market based on their leadership across 10 Growth and Innovation criteria.
About Frost & Sullivan
Frost & Sullivan is an analyst firm that works with clients to create innovative go-to-market strategies and implement best practices so that they can overcome market challenges and identify new opportunities for transformational growth.
What’s new this year
The 2023 Frost Radar report details how modern Enterprises require (and are rapidly adopting) invisible fraud detection and prevention features across their customers’ digital commerce journey to optimally balance security measures alongside seamless customer experience. This Radar began by analyzing more than 75 different vendors and was refined to focus on the 13 leading global vendors for fraud detection and prevention.
How Forter ranked
In the report, Forter is recognized as a leader in the global Fraud Detection and Prevention (KYU) market for the third consecutive year. Other companies in this market are Akamai, BioCatch, Ekata, Feedzai, Group-IB, HUMAN, Kount, LexisNexis Risk Solutions, Nethone, NICE Actimize, Signifyd, and ThreatMark.
“The ability to isolate fraud while delivering a consistent, superior experience for trustworthy customers has become a competitive advantage in today’s economic environment,” said Michael Reitblat, CEO and co-founder, Forter. “Our leadership recognition from Frost & Sullivan is validation of our team’s focus on unlocking trust and revenue for merchants. We’re excited to continue delivering meaningful impact for our customers.”
According to the report, Forter’s “approach to innovation and growth is succeeding” and contributes to Forter’s established market leadership position. Moreover, Forter’s ability to exceed customer targets and guarantee contractual results is a key factor in retaining customers and maximizing merchant ROI, which has led to “a marquee list of satisfied clients that includes some of the largest digital commerce businesses, footwear companies, hotel chains, and apparel companies in the world.”
In addition, highlighting Forter’s continued progression in integrating and uniting disparate ecosystems, the report notes that “Forter has invested in deep integration with ecosystem partners—commerce platforms, payment service providers, and issuing banks—to accelerate growth. This allows it to build trust among merchants, issuers, and card networks and leverage 3DSecure (a technical standard created by Visa and Mastercard to add a layer of security in online credit and debit card transactions) intelligently to maximize conversions for its customers.”
Want to learn more about why Forter was recognized as a leader in the US and the global digital commerce fraud prevention markets?